Pakistan's ECC approved a gas price hike for captive power plants, effective July 1, 2024, per IMF requirements to address Rs2,900bn circular debt.

Pakistan's Economic Coordination Committee (ECC) approved a gas price hike for captive power plants, effective July 1, 2024, to meet a condition set by the International Monetary Fund (IMF). The decision aligns with IMF's directives and aims to collect surplus revenue to help offload the existing circular debt of Rs2,900 billion. Gas prices for captive power plants will increase by Rs250 to Rs3,000 per mmBtu, and the IMF also wants bi-annual gas tariff adjustments to prevent a new surge in gas circular debt.

June 30, 2024
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